Ablaze Trading
Ouman loop verskeie mense in met Ponzi-skema
Straf wag na bedrog van R9-miljoen
IN DIE HOF: Die Parow-landdroshof het Andrew Paul Futcher (62) skuldig bevind aan bedrog nadat hy verskeie mense met meer as R9,2-miljoen ingeloop
Die hof het gehoor Futcher was vanaf 2010 tot 2011 betrokke by ‘n bedrogskema.
Hy het ‘n Ponzi-skema onder die naam Ablaze Trading CC bedryf waardeur hy beleggings ter waarde van meer as R9,2 miljoen gewerf en beleggers ‘n maandelikse opbrengs van 10% gewaarborg het.
Hy het op die aandelemark verhandel via ‘n geregistreerde makelaar, DWT Securities.
Die hof het verder gehoor dat die beskuldigde, nadat hy die geld van beleggers ontvang het, versuim het om die fondse soos belowe te belê. Hy het egter ‘n gedeelte van ou beleggers se geld terugbetaal met geld wat hy van nuwe slagoffers ontvang het.
Hy is ook reeds in April 2004 vir soortgelyke oortredings tot 12 jaar gevangenisstraf gevonnis.
Die saak is tot 2 Junie 2026 uitgestel vir vonnisoplegging en Futcher is op streng borgtogvoorwaardes vrygelaat.
Ponzi scheme used to scam investors
Elderly man guilty of R9 M fraud
IN THE COURTS: The Parow Magistrates Court has found Andrew Paul Futcher (62) guilty of defrauding investors to the tune of over R9.2 million.
The court heard that Futcher engaged himself in an investment fraud scheme from 2010 to 2011.
He operated a Ponzi scheme under the name of Ablaze Trading CC whereby he solicited investments from the public to the amount of over R9.2 million and guaranteed the investors a monthly return of 10%.
He was trading on the stock market via a registered brokerage company DWT Securities.
The court further heard that the accused, after receiving the funds from investors, failed to invest the funds as promised, but he would pay back a portion of the victims’ money with money received from newly duped victims.
He was already sentenced for similar offences in April 2004 to 12 years imprisonment.
The matter was postponed to 2 June 2026 for sentencing and Futcher was released on strict bail conditions.